2010-05-26 — wsj.com
On Wednesday, Germany’s debt managers failed to raise the full €7 billion from investors scheduled, ending up selling only €5.4 billion in bonds with the rest being retained.
The problem: The country is forcing investors to accept a measly interest rate of 1.47% for five-year bonds compared with the 2.2% rate at the last similar auction. The 1.47% is right around current market levels.
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